EVENING. Business.

Bank on it: Three big banks--Chase Manhattan Corp., First...

June 23, 1999

Bank on it: Three big banks--Chase Manhattan Corp., First Union Corp. and Wells Fargo & Co.--said they are joining forces to deliver electronic bills to consumers and businesses, reflecting the growing power of the Internet in financial services. The venture, to be called the Exchange, will serve as an intermediary to route on-line bills to bank customers. The system is expected to be operating by year's end. The banks declined to say how much they were investing in the new company.